Rangely Town Council hears 2025 financial audit presentation; acceptance not recorded

At its July 14, 2026 meeting the Rangely Town Council heard a presentation on the town’s 2025 financial audit from auditor Marla Coates of Carlos CPA Services. The agenda listed an item to accept the audit, but the provided transcript contains no recorded motion or vote on acceptance.

Coates introduced herself at the start of her presentation: “for your records, my name is Marla Coates. I own Carlos CPA Services, and, we've done your financial audit for 2025.” She told council members the audit firm issued an unmodified opinion, describing it as “the clean opinion” based on tests tracing balance-sheet accounts to bank statements and transaction testing.

Coates summarized the structure of the report, noting the management discussion and analysis runs pages 3–8 and the formal financial statements begin on page 12 with the statement of net position prepared on a full-accrual basis. She explained the distinction between governmental activities and business-type (enterprise) activities — the latter include sewer, gas and water funds — and described the reconciliation between full-accrual and modified-accrual presentations.

On results, Coates said the town’s overall net position declined for the year and that business-type activities declined as well; she described the amounts as approximate in the presentation. The auditor reported the general fund’s fund balance decreased by about $990,000 and grouped other governmental funds decreased by about $115,000. She also said enterprise results were mixed, with the gas fund increasing its net position while the other two enterprise funds decreased.

Coates walked council members through the enterprise-fund cash-flow statements — which show where cash came from and went, and whether the town took new loans — and explained that the report includes notes to the financial statements and fiduciary fund detail. She described a public-giving fund as a fiduciary trust the council holds and passes along, not a town fund for town use.

The meeting transcript shows the audit was presented and discussed but does not record a formal motion, a mover/second, or a roll-call tally accepting the audit. The audit item was introduced on the agenda as "Discussion and action to accept the 2025 audit," but the outcome is not specified in the available transcript segments. The presentation concluded with Coates introducing the notes to the financial statements.